Well Established Supplier of Equipment & Furniture to School Systems ()
New England - New Hampshire, Hillsborough
| Seller Financing: |
Yes |
| Lender Pre-Qualified: |
No |
| Listing ID: |
74855 |
| Status: |
Active |
Listing Details
| Listed Price: |
$1,000,000 |
| Down Payment: |
$700,000 |
| Total Sales: |
$4,589,245 |
| SDE: |
$585,565 |
| EBIT: |
|
| EBITDA: |
|
| FFE: |
$69,422 |
Included? Yes |
| Real Estate: |
|
Included? |
| Inventory: |
|
Included? |
| A/R: |
$896,639 |
Included? No |
|
|
| Reason for Sale: |
Owners retiring within one year. |
| Training: |
Eight weeks at 0 additional cost. |
| Financing Terms: |
$300,000 at 5% over 36 months. |
Operations
| Year Established: |
1992 |
| Last Acquired: |
|
| Form of Ownership: |
Sub S Corp. |
| Home Based: |
No |
| Relocatable: |
Yes |
| Type of Location: |
Office Building |
| Absentee Owner: |
No |
| Online: |
No |
| Employees: |
Full Time: 3 / Part Time: 2 |
| Managers: |
2 |
| Hours: |
M - F, 8AM - 5PM |
| Owner Hours: |
40 |
| Non-Owner Payroll: |
$70,735 |
| Franchise Info: |
|
Location
| Lease Expire: |
12/31/2011 |
| Option: |
2 years |
| Lease Terms: |
|
| Lease Security: |
|
| Monthly Rent: |
$817 |
| Square Footage: |
1400 |
| Facilities: |
Ownership enjoys a strong relationship with its landlord, which has proven to be flexible in times of needing more or less space. The current lease expires 12/31/11, but a one-year renewal with a one-year option to renew is currently being explored. |
Summary
| Business Description: |
This distributor sells furniture and equipment to the K - 12 market, covering every aspect of schools with the exception of kitchens and gyms. Coming off a great year in 2011, there are many opportunities to build on recent successes, including building a sales team & culture and starting a social media marketing strategy where none currently exists. The company has outstanding contracts with a half-dozen manufacturers, affording it first crack at certain jobs and significant discounts. |
| Historical Summary: |
It boasts a stellar reputation over its 20-year history for remarkable follow-through and customer service. |
| Owner Qualifications: |
The current partnership focuses almost exclusively on sales and administration and no licenses are required. Ownership is busiest when schools are closed to allow time for installations, which are sub-contracted out. As most of their clients operate on a June 30th year-end calendar, the summer months tend to be the most active for ownership, with time taken off typically in the Spring and Fall. |
| Competition: |
Competitors are generally regional with a couple with a more national reach. One of the company's strengths lies in its ability to build solid relationships with the manufacturers it represents which leads to access to pre-arranged discounts. The company does lose some bids when price is the only issue of concern as it works hard to earn higher prices in exchange for unmatched service. |
| Potential Growth: |
The company was once staffed with six salespeople that provided more blanket coverage of New England. With the two partners approaching retirement age, it was decided to scale back a bit during the recent recession, and that has led to a leaner, more efficient operation. Between growing the sales team to its former size and beyond and implementing a social media strategy, there are many opportunities to grow sales in New England and then perhaps on a national basis. |
|
|
|
|